What does "loss prevention" include in retail?

"Loss prevention" in retail fundamentally encompasses the strategies and practices designed to minimize theft and shrinkage. This typically includes a variety of tactics such as monitoring inventory levels, employing security personnel, using surveillance systems, and implementing policies that deter shoplifting and employee theft. The primary goal of these initiatives is to protect the store’s assets and minimize financial losses associated with inventory shrinkage.

In contrast, increasing sales training for employees, improving customer service experiences, and enhancing product displays focus on different aspects of retail performance. Sales training is aimed at equipping employees with better selling techniques, while customer service enhancements aim to improve the overall shopping experience. Techniques for improving product displays are related to merchandising and visual presentation to attract customers. While these areas are important for overall store success, they do not directly relate to the specific objectives and actions associated with loss prevention.